NEWPORT BEACH, CALIFORNIA (December 2, 2020) – NorthMarq’s Newport Beach office announced the sale and financing of Villa Del Sol, a 70-unit value-add apartment building in Anaheim, California. The property was built in 1966. Villa Del Sol was marketed and sold during the COVID-19 pandemic and received financing through NorthMarq’s Fannie Mae’s Green Program. The transaction was a Tier 3 loan with 6-years of interest-only payments. Brendan Golding, vice president -debt/equity arranged the financing and Shane Shafer, managing director – investment sales arranged the sale.
“This was a great collaboration between the NorthMarq Investment Sales and Debt & Equity teams. Working together made the acquisition process smooth and seamless for the client. The borrower plans to install solar panels at the property as part of the Fannie Mae Green Program,” said Golding.